EdgeTI Announces Results of 2024 Annual General and Special Meeting

Rhea-AI Summary

EdgeTI (TSXV: CTRL, OTCQB: UNFYF) held its Annual General and Special Meeting on November 22, 2024, where shareholders approved all proposed matters. The board of directors was set at seven members, with all incumbent directors re-elected. The company's amended Omnibus Share Incentive Plan was approved, including a '10% rolling' plan for stock options and an increase in the Fixed Plan's maximum shares for other awards from 5,483,500 to 7,010,767 shares. MNP LLP was re-appointed as auditors. Post-meeting, James Barrett was re-appointed as CEO, Sheri Rempel as CFO, and Nicholas Brigman as Corporate Secretary.

Positive

• Board stability maintained with all incumbent directors re-elected
• Five out of seven directors are independent, showing strong corporate governance

Negative

• Increase in shares reserved for Awards from 5.48M to 7.01M could lead to potential dilution

Arlington, Virginia--(Newsfile Corp. - November 25, 2024) - Edge Total Intelligence Inc. (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5I) ("edgeTI", "Company"), a leading provider of real-time digital twin software, is pleased to announce the results of its Annual General and Special Meeting of Shareholders (the "Meeting") held on November 22, 2024. Shareholders of the Company voted in favor of all matters brought before them at the Meeting.

The results of the Meeting were as follows:

1. The number of directors of the Company was set at seven (7).

2. The incumbent board of directors, James Barrett, Edward Mede, Seth Kay, Brett Paulson, Jaci Tomek, Carolyn Hollander and Mel Wesley were elected for the ensuing year. Of the directors re-elected, Edward Mede, Jaci Tomek, Carolyn Hollander, Brett Paulson and Mel Wesley are independent.

3. Shareholders at the meeting approved the re-appointment of MNP LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year, and the directors of the Company were authorized to determine their remuneration.

4. The Company's amended Omnibus Share Incentive Plan (the "Omnibus Plan") was approved by a majority of the shareholders. The Omnibus Plan is a "10% rolling" plan related to the number of shares issuable upon exercise of stock options ("Options"), and a "fixed" plan ("Fixed Plan") related to the number of shares issuable pursuant to all other awards ("Awards") other than Options. The Fixed Plan was amended to increase the maximum number of shares reserved for issuance pursuant to the settlement of Awards from 5,483,500 to 7,010,767. The Omnibus Plan is subject to the TSX Venture Exchange's approval.

A summary of all of the items approved at the AGM, including details of the Omnibus Plan, as amended, are described in the Company's management information circular dated October 11, 2024, which is available under the Company's profile on SEDAR at www.sedarplus.ca.

Following the AGM, the Board re-appointed James Barrett as Chief Executive Officer, Sheri Rempel as Chief Financial Officer and Nicholas Brigman as Corporate Secretary.

The Board would like to thank the shareholders for their continued support.

About edgeTI

edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform's low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross- domain operations - helping them achieve the impossible.

Website: https://edgeti.com
LinkedIn: https://www.linkedin.com/company/edgeti
YouTube: www.youtube.com/user/edgetechnologies

For more information, please contact:

Nick Brigman
Analyst, Investor, and Press Relations,
Phone: 888-771-3343
Email: ir@edgeti.com

FORWARD-LOOKING INFORMATION

Certain statements made, and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231297

FAQ

What were the key results of EdgeTI's (UNFYF) 2024 Annual General Meeting?

At the November 22, 2024 meeting, shareholders approved the re-election of seven directors, re-appointed MNP LLP as auditors, and approved an amended Omnibus Share Incentive Plan with increased shares for Awards from 5,483,500 to 7,010,767.

How many independent directors does EdgeTI (UNFYF) have after the 2024 AGM?

After the 2024 AGM, EdgeTI has five independent directors: Edward Mede, Jaci Tomek, Carolyn Hollander, Brett Paulson, and Mel Wesley.

What changes were made to EdgeTI's (UNFYF) Omnibus Share Incentive Plan in 2024?

The Fixed Plan component was amended to increase the maximum number of shares reserved for Awards from 5,483,500 to 7,010,767, while maintaining a 10% rolling plan for stock options.